I completely ignore the battery indicator as it always shows 50% to 75% charged for me.
Within about 10 minutes of a full (ie 3 hours) charge it will be down to 75% and it has never dropped below 50% despite me getting the white "you must recharge now" screen several times.
As far as I'm concerned the Kobo doesn't have a battery charge indicator so I just try the best I can to keep track of my reading and charge every few days if I'm reading a lot (more than 2 or 3 hours a day) or weekly when I only read for an hour or 2 a day.
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